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AMP Capital Equity Quarterly Investment Option Update

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AMP Capital Equity Quarterly Investment Option Update AMP Capital Equity Quarterly Investment Option Update 30 June 2020 Aim and Strategy Sector Allocation % To provide investors with long-term capital growth Financials 27.01 through investment in a portfolio of Australian Materials 19.11 securities, listed or about to be listed, on the Australian Health Care 12.05 Securities Exchange. Investment is diversified across Industrials 7.28 a range of industries and sectors, with a focus on the Consumer Discretionary 7.05 largest 200 companies. In constructing the portfolio, Real Estate 6.39 AMP Capital employs a systematic rules-based Consumer Staples 6.31 approach where no individual stock fundamental Energy 4.23 analysis is conducted and the investment team use Communication Services 4.12 large sets of data to analyse stocks through intelligent Information Technology 3.47 screening methods. Passive, enhanced Utilities 1.86 Cash 1.12 Investment Option Performance To view the latest investment performances for each Top Holdings % product, please visit www.amp.com.au CSL Ltd 7.95 Commonwealth Bank Australia 7.42 Investment Option Overview BHP Group Ltd 6.49 Investment category Australian Shares Westpac Banking Corp 4.09 Suggested minimum investment National Australia Bank Ltd 3.52 5 years timeframe Australia & New Zealand Banking Group 3.21 Relative risk rating High Ltd Wesfarmers Ltd 2.98 Investment style Active Woolworths Group Ltd 2.77 Manager style Single Transurban Group 2.34 Telstra Corp Ltd 2.32 Asset Allocation Benchmark (%) Australian Shares 100 Cash 0 Actual Allocation % International Shares 3.04 Australian Shares 86.09 Listed Property and Infrastructure 9.76 Cash 1.11 AMP Life Limited 84 079 300 379 Fund Performance The Fund outperformed the S&P/ASX 200 Accumulation Index over the June quarter, primarily due to the positive contribution from our positioning in consumer discretionary and energy stocks. The fund maintained a neutral exposure to both risk appetite and market beta. The largest positive stock-level contributor came from the Funds overweight position in JB Hi-Fi. JB Hi-Fi is an electronics retailer and has benefitted positively due to the COVID-19 pandemic driving demand for working from home products. Being overweight the company relative to the benchmark resulted in the Fund contributed to relative outperformance. The largest stock-level detractor came from the Fund's underweight position in Afterpay Limited. Afterpay's share price was up over 200% during the quarter after it announced a Chinese-based significant shareholder and strong growth in customers from the US. The Fund had a slightly underweight position relative to the benchmark which contributed to relative underperformance. The Fund is characterised as being a highly-diversified portfolio with a breadth of stock holdings. Across the sectors, the Fund's largest overweight positions are biased towards consumer discretionary and industrial sectors whilst it is underweight the real estate and consumer staples sectors. Market Review In line with broader global markets, Australian shares recorded an extremely strong June quarter, as stocks rebounded from their lows experienced at the height of the COVID-19 related market panic in late March. The market finished the quarter up by 16.5%, as measured by the S&P/ASX 200 index on a total return basis. The relative success of Australia's COVID-19 containment measures, which saw authorities begin lifting mandatory lockdowns, combined with unprecedented fiscal stimulus drove the market's surge. Later in the quarter, economic indicators, such as business confidence, retail sales and trade figures, appeared to confirm the Australian economy was indeed in recovery mode. Amid all the bullishness, concerns of recent months however remained - and in some cases actually grew - such as tensions with China, potential second waves of infections (particularly in Melbourne), a rising Australian dollar and still most pressingly, COVID-19's effect on company earnings. The standout performer at a sector level was information technology (IT), which rose by a remarkable 48.7% during the period. This small, but fast-growing sector of the Australian economy appears to have benefitted in many ways from the COVID-19 crisis, as changing consumer behaviour and a shift towards online activities has led to increasing tailwinds for many IT businesses. Consistent with a rebound in the economy, defensive sectors underperformed. Outlook Australian shares will likely continue to be primarily driven by global markets. Like its international peers, Australia's economic growth has slumped, though evidence of a bounce-back is already emerging. Australia's greater degree of government stimulus (relative to other countries) should help support Australian shares, though there are some near-term risks, such as souring trade relations with China and a lack of earnings visibility for many companies. Given large price-rises since the March lows, we believe investors should be selective and, as always, keep an eye on the longer-term. AMP Life Limited 84 079 300 379 Availability Product Name APIR AMP Flexible Super AMP1454AU* AMP Flexible Super - Retirement AMP1324AU* CustomSuper AMP0468AU* Flexible Lifetime - Allocated Pension AMP0598AU* Flexible Lifetime - Investments AMP0018AU* (Series 1) Flexible Lifetime - Investments AMP1394AU* (Series 2) Flexible Lifetime - Super AMP0468AU* Flexible Lifetime - Term Pension AMP0898AU* SignatureSuper AMP2047AU* SignatureSuper - Allocated Pension AMP2048AU* *Closed to new investors Contact Details Web: www.amp.com.au Email: [email protected] Phone: 131 267 What you need to know This publication has been prepared by AMP Limited ABN 49 079 354 519. The information contained in this publication has been derived from sources believed to be accurate and reliable as at the date of this document. Information provided in this investment option update are views of the underlying Investment Manager only and not necessarily the views of the AMP Group. No representation is given in relation to the accuracy or completeness of any statement contained in it. Whilst care has been taken in the preparation of this publication, to the extent permitted by law, no liability is accepted for any loss or damage as a result of reliance on this information. AMP Life is part of the AMP Group. In providing the general advice, AMP Group and AMP Life Limited ABN 84 079 300 379, AFSL 233671 (AMP Life) receives fees and charges and their employees and directors receive salaries, bonuses and other benefits. The information in this document is of a general nature only and does not take into account your financial situation, objectives and needs. Before you make any investment decision based on the information contained in this document you should consider how it applies to your personal objectives, financial situation and needs, or speak to a financial planner. The investment option referred to in this publication is available through products issued by N.M. Superannuation Proprietary Ltd ABN 31 008 428 322, AFSL 234654 (NM Super), AMP Capital Funds Management Limited ABN 15 159 557 721, AFSL 426455 (AMPCFM), ipac asset management limited ABN 22 003 257 225, AFSL 234655 (ipac) and/or AMP Life. Before deciding to invest or make a decision about the investment options, you should read the current Product Disclosure Statement for the relevant product, available from the issuer or your financial planner. Any references to the "Fund", strategies, asset allocations or exposures are references to the underlying managed fund that the investment option either directly or indirectly invests in (AMP Capital Equity). The investment option's aim and strategy mirrors the objective and investment approach of the underlying fund. An investment in the investment option is not a direct investment in the underlying fund. Neither NM Super, AMPCFM, ipac, AMP Life, any other company in the AMP Group nor the underlying fund manager guarantees the repayment of capital or the performance of any product or particular rate of return referred to in this document. Past Performance is not a reliable indicator of future performance. AMP Life Limited 84 079 300 379.
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